The 25p age addition would have a value of £2.44 in 2006-07 had it been increased in line with RPI since 1971. The equivalent figure with earnings uprating would be £4.39.
It is estimated that it would cost an additional £220 million in 2007-08 to reach the price uprated level. The equivalent figure to reach the earnings uprated level is an additional £420 million.
Notes:
1. The revaluation of the age addition uses National Statistics Time Series for the Whole Economy RPI (CZBH) and the Whole Economy AEI (LNMQ) including bonuses.
2. Costs are given in 2006-07 prices.